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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: gfs_1999 who wrote (71946)	3/12/2001 7:59:14 PM
From: Doug	Respond to of 99985

gfs: Todays sell off in the Dow was triggered by an Analyst call vrs any Big Board Company specific event. I believe the short side Analysts for the DOW stocks made a concerted effort to make centre stage by raising concerns about " Tech Overflow". In contrast every NAZ sell off has been caused by Comapny specific news; Analysts calls were often disregarded. Looking ahead interest rate cuts have always been a +ve for the old Economy stocks. If so, a sell off so close to the interest rate cut (20 March) does not make sense. It may well be that todays sell off is a classic Bear trap. Sure; the Dow may slide lower but such a slide makes sense if it occurs after a rally due to a cut in interest rates. Tomorrows market should be indicative of the logic in todays move.